293 The use of the money raised requirement
Income Tax Act 2007 (2007 c 3) | Legislation

293  The use of the money raised requirement

[(1)     The requirement of this section is that—

(a)     less than two years has passed since the trading time, or

(b)     at least two years has passed since the trading time and all of the money raised by the issue of the relevant holding has been employed wholly for the purposes of a relevant qualifying activity.]

(2)     . . .

(3)     . . .

(4)     . . .

(5)     In subsection (1) “the trading time” means whichever is applicable of the following—

(a)     in a case where the requirement of section 291 was met in relation to the time when the relevant holding was issued and the relevant qualifying activity falls within subsection (2) of that section, the time when the relevant

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